SANTA FE (AP) — New Mexico Gov. Susana Martinez provided new indications Tuesday that the state may be headed toward a special legislative session to address dwindling state operating reserves.
The Republican governor told members of the State Investment Council that her office has been working for weeks with executive agencies and a key legislative committee on how to resolve the state's fiscal imbalance.
New Mexico is one of several states dealing with general fund declines linked to reduced energy prices and production. Where some states have tapped rainy day funds or raised taxes, New Mexico has allowed its operating reserves to plunge.
Martinez said a solution may involve a short, pre-negotiated Legislative session, without indicating exactly how the state would meet spending commitments. The governor has called the special sessions of the legislature before to resolve issues of electoral redistricting and spending on public works projects.
"I'd really like to see this resolved, as we did, (at a) special session over at the capitol before we walk in, and it's a four-hour session," Martinez said.